EUR/USD: Daily Bolli Bands Narrow, Focus On Sep Resistance. EUR/USD ranging sideways within a flag pattern, while the daily Bollinger bands begin to narrow indicating decreased volatility. The flag top is formed by resistance drawn from Sep highs at $1.3022 and the base seen around the 200-DMA and lower Bollinger band at $1.2827/29. The 5-DMA looks to complete a bullish crossover of the 21-DMA while daily tech studies remain neutral.
RES 4: $1.3072 High Oct 5
RES 3: $1.3059 Upper Bollinger Band
RES 2: $1.3022 Resistance from Sept 17
RES 1: $1.2992 High Oct 12
LATEST PRICE: $1.2964
SUP 1: $1.2934 5-day moving average
SUP 2: $1.2906 23.6% Fibonacci retracement of $1.2043-1.3172
SUP 3: $1.2826/27/29 Low Oct 11, 200-DMA, Lower Bolli band
SUP 4: $1.2795 Support line from July
GBP/USD: Bull-Divergence From Daily Tech Studies. Daily tech studies showing slight bull-divergence as the studies begin to rise, however, price action attempted to close a good 50 pips lower. Strong layers of resistance seen from $1.6097/6104 and above, however, initial support seen at $1.6053, the 5-DMA and below that around $1.5977/79, the lows of Oct 9 and 10 alongside the 21-day Bollinger band.
RES 4: $1.6218 High 5 Oct
RES 3: $1.6182/87 61.8% Fibo $1.6309-1.5977, Res line from Sep 21
RES 2: $1.6136/43 21-DMA, 50.0% Fibonacci of $1.6309-1.5977
RES 1: $1.6097/6104 High Oct 12, 38.2% Fibonacci of $1.6309-1.5977
LATEST PRICE: $1.6071
SUP 1: $1.6053 5-day moving average
SUP 2: $1.5977/79 Lows 9 & 10 Oct, Lower 21-day Bollinger band
SUP 3: $1.5960/67 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
SUP 4: $1.5941 55-day moving average
USD/JPY: Storms Higher To Reach Ichimoku Cloud Top. The pair moving higher, however, found resistance at the Ichimoku cloud top around Y78.90. Daily tech studies are moving higher and slow stochastics exhibits a buy-signal, new initial resistance now seen at Y79.22, the Sep 19 high. A move up to here will be followed by bulls targeting the 200-DMA at Y79.39. Support now seen from the Ichimoku cloud base and former March res line around Y78.52-61.
RES 4: Y80.10 High Jul 5
RES 3: Y79.66 August high
RES 2: Y79.39 200-day moving average
RES 1: Y79.22 High Sep 19
LATEST PRICE: Y78.88
SUP 1: Y78.43 Tenkan line, 55-DMA
SUP 2: Y78.18/26 Kijun line, 21-DMA
SUP 3: Y78.12 Support line from Sep 28
SUP 4: Y77.98 61.8% of October recovery
EUR/JPY: Focus Turns To April Resistance And Channel Top. EUR/JPY moved through the 200-DMA and has extended gains above the Ichimoku cloud. Focus now turns to Y102.80, the Oct 5 high, with further resistance see at Y103.04, the resistance line drawn from April. Price action remains within the rising channel since July, with only one break out of the channel occuring in Sep. Bulls may target the channel upper at Y103.53 while Euro-yen trades above the 200-DMA.
RES 4: Y103.86 High Sep 17
RES 3: Y103.53 Rising channel upper
RES 2: Y103.04 Resistance line from April
RES 1: Y102.80 High Oct 5
LATEST PRICE: Y102.26
SUP 1: Y101.69 Kijun line
SUP 2: Y101.48 Tenkan line
SUP 3: Y101.29 21-day moving average
SUP 4: Y100.78 23.6% Fibonacci of Y102.80-100.16
EasyForexNews Research Team